Tcfg Wealth Management LLC Lowers Position in Newmont Co. (NYSE:NEM)

Tcfg Wealth Management LLC lessened its stake in Newmont Co. (NYSE:NEM) by 84.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,288 shares of the basic materials company’s stock after selling 67,614 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Newmont were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. E. Ohman J or Asset Management AB lifted its holdings in shares of Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares in the last quarter. Carmel Capital Partners LLC lifted its holdings in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after buying an additional 226 shares in the last quarter. Good Life Advisors LLC lifted its holdings in shares of Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after buying an additional 229 shares in the last quarter. Studio Investment Management LLC lifted its holdings in shares of Newmont by 29.4% in the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock worth $61,000 after buying an additional 261 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in shares of Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after buying an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Stock Down 2.4 %

NEM stock opened at $46.61 on Friday. The firm has a 50-day simple moving average of $41.01 and a two-hundred day simple moving average of $46.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger acquired 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by insiders.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.